As one of the most iconic haunts of Hollywood’s ‘Golden Age’ stars, the Arizona Biltmore Hotel has hosted and entertained many US celebrities – even a former president and first lady on their honeymoon. The Phoenix-based resort has now found itself a new owner, the latest in a string of real estate’s heavy hitters.
In January, London-based manager Henderson Park agreed to buy the Waldorf Astoria collection resort for $705 million from US real estate giant Blackstone, according to a Bloomberg report. Eastdil Secured was the adviser on the transaction. The sale comes six years after Blackstone bought the hotel from Singaporean sovereign wealth fund GIC for $400 million. Following the acquisition, Blackstone spent more than $150 million renovating the asset, upgrading pools and dining venues and adding a new spa and wellness experience.
Arizona Biltmore through the ages
1929: Arizona Biltmore Hotel opens
1973: Hotel is rebuilt after a fire
1979-99: Hotel changes hands between Rostland Corporation, Grossman Properties, Florida Panther Holdings and Boca Resorts
2000: KSL Recreation buys hotel for $335m
2004: REIT CNL Hotels & Resorts buys property
2007: Morgan Stanley acquires hotel via purchase of CNL
2013: GIC buys hotel from lenders after CNL foreclosure
2018: Blackstone purchases property for $400m
2024: Blackstone sells hotel to Henderson Park for $705m
Opened in 1929 by Warren McArthur, Jr, Charles McArthur and Biltmore Hotel chain founder John McEntee Bowman, the hotel has changed hands many times throughout nearly a century. In 2000, KSL Recreation – now KSL Resorts – bought it from Boca Resorts for $335 million. It was then sold to Florida-based real estate investment trust CNL Hotels & Resorts in a portfolio transaction in 2004. In 2007, Morgan Stanley took over the hotel when it acquired CNL. In 2013, GIC bought the hotel through bankruptcy court after the lenders of CNL foreclosed on eight former CNL hotels.
Designed by Albert Chase McArthur with architectural influences from Frank Lloyd Wright’s patent block design, the luxury resort sits in the heart of Phoenix, 20 minutes’ drive from Phoenix Sky Harbor International Airport. Currently, the hotel has 705 rooms.
Stars and sunrise
Back in 1929, the hotel’s grand opening attracted 600 guests, with the gala extended into a three-day event to accommodate the interest. Over the years, it has hosted famous figures including Marilyn Monroe, Frank Sinatra, Clark Gable, Ronald and Nancy Reagan and George W Bush. Notably, the hotel’s Catalina Pool, which opened in 1940, was also named Marilyn Monroe’s Pool as the star was often seen sunbathing in the area.
The resort was also the birthplace of an iconic cocktail: the Tequila Sunrise, created by the hotel’s master bartender Gene Sulit in 1930.
In less sunny times, a six-alarm fire in 1973 caused huge damage to the hotel. The owner of the hotel hired a crew to work 24 hours a day for 81 days to rebuild the resort and save the winter season. Following the fire, the Arizona Biltmore was expanded, with the addition of new wings and refurbishment of the lobby.
If the walls of Arizona Biltmore Hotel could talk, they would be holding their breath to welcome whoever the next US president might be.
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